Skip to content

Latest commit

 

History

History
43 lines (26 loc) · 2.83 KB

Process.md

File metadata and controls

43 lines (26 loc) · 2.83 KB
Raw

Process for New Asset Listing on Compoundv3

1. Request Asset Listing

  • New market proposer reviews the Checklist and provides as much of the requested information that they can (note the required fields) in a forum post titled "Add market: {ASSET SYMBOL}" under the "New Markets" category in the Compound forum

2. Community Analysis

  • Verification

    • Community member(s) handles back and forth to review that the info provided is correct and complete.

  • Risk Analysis

    • The community checks the market risks of the asset based on available data, potentially using a scoring system that would need to be created.
    • Gauntlet provides a market risk assessment framework to be used at this stage.

  • Tooling and Simulations

    • Community member(s) execute available test suite and simulations. These must be performed against the contracts deployed on the target network.

3. Finalize Deployment

  • Deploy Any Auxilary Contracts

    • Promoter is asked to deploy any price feed modifier (for example, ScalingPriceFeed.sol) and provide any deployed contract addresses in the same forum post. In the future, contracts might need to be deployed on testnets as well. Price feed modifiers must implement the AggregatorV3Interface from ChainLink.
    • Promoter will provide verified contracts deployed and a diff will be evaluated to exclude eventual unwanted/unexpected codebase changes.

  • Draft On-Chain Proposal

    • A formal proposal is drafted. It must include a call to Configurator.addAsset(), and all necessary parameters for the AssetConfig element required as input. It must explain the reasoning behind each proposed parameter value (e.g. borrowCollateralFactor, liquidateCollateralFactor, liquidationFactor, supplyCap, etc.)
    • asset MUST be the underlying asset to be added, priceFeed MUST be the address of either a ChainLink oracle or the optional price feed modifier, and decimals MUST be the number of decimals of the underlying token.

4. Proposal Audit (optional)

  • Proposal is reviewed by security auditors if the community asks for it. This can be done by OpenZeppelin or another third-party hired by the proposal author.

5. On-Chain Proposal Submission

  • Proposal is submitted for voting.

  • If proposal fails, forum post is updated with results and follow up discussions can happen there.

6. Post-Launch Setting of Parameters

  • After launch, increasing collateral factor to a safe level and setting the reserve factor to be in line with other assets.

  • Borrow limits can be optionally set.